You need a merchant services account through a merchant services provider if you want to accept payments by phone. To obtain this account, you generally need a checking account and documentation to prove you are the business owner. You can choose to accept automatic phone payments or phone payments that require manual processing.
Instructions
Automatic Payments
1. Sign up for services with a merchant services provider that allows you to accept payments through an IVR (interactive voice response) system. Contact your local bank to see if this service is offered. You can also use any of the many online merchant services providers.
Before signing up for IVR services with a merchant services provider, be sure to compare rates and fees. For instance, check the application fee, annual fees, transaction fees, monthly statement fees and payment gateway fees.
2. Follow the instructions of your merchant services provider to set up and activate your IVR. These instructions will vary by provider.
3. Obtain the telephone number assigned to your merchant services account. Provide the telephone number to your customers.
Manually Processed Payments
4. Sign up for services with a merchant services provider that allows you to process payments through an online virtual terminal or physical credit card terminal. Both terminals will require a service fee. However, if you choose a physical credit card terminal, you will also incur a leasing fee for the equipment.
5. Provide your regular business telephone number to your customers. Be sure the customer is aware of the fact that he can call and make a payment over the telephone.
6. Wait for the customer's call. Obtain the customer's credit card information. Enter his information into the physical credit card terminal. To process the payment, you need the entire credit card number, expiration date, security code and billing address (or zip code). If check payments are accepted, you need the customer's checking account number and bank routing number.
If you are processing payments through a virtual terminal, log into the online website. Enter the customer's credit card information to process the payment. If you don't know the website address for your virtual terminal, ask your merchant services provider for it.
